Navy Pier Inc

Nonprofit profile at a glance

EIN
274813461
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Chicago, IL, USA
Phone
3125957437
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$74,554,644
Expenses
$78,318,131
Assets
$183,190,563
Liabilities
$74,838,880

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

40 people listed

Executive titles in this filing

  • MARILYNN GARDNER (PRESIDENT & CEO)

Highest reported compensation

  • MARILYNN GARDNER (PRESIDENT & CEO): $700,876 total reported compensation
  • BRIAN MURPHY (CHIEF OPERATING OFFICER): $474,420 total reported compensation
  • JEFFREY BROWN (CFO & ASST. TREASURER): $338,733 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Navy pier is the "people's pier and aims to fulfill visionary daniel burnham's edict that chicago's magnificent lakefront remain open and available to the people. Through 50 acres of parks and unmatched views of the city skyline touching the endless shoreline, (see schedule o) navy pier engages locals and vistors by providing dynamic and eclectic experiences through partnerships and programs that inspire discovery and wonder.

What it reported doing in 2024

As an icon of the city, navy pier is firmly rooted in chicago's vibrant culture, unique architecture, and connected communities. Navy pier is a vital economic engine and proud first employer, providing space and business development opportunities for small and locally-owned businesses and sustaining 3,000 jobs annually. Navy pier provides a year-round world-class platform for chicago's cultural community, partnering with thousands of individual artists and hundreds of performing organizations that represent the vibrancy of chicago and its 77 neighborhoods. Navy pier is home to nonprofit partners chicago shakespeare theater, chicago children's museum, and chicago public media and proudly presents accessible programming intended to inspire, educate, and authentically connect artists to (see schedule o) audiences. Navy pier is governed by a 30-member volunteer board of directors consisting of business and civic leaders, and continues to operate diligently under its core values of excellence, inclusion, stewardship, and integrity.

Operating model

Revenue model
Other-operating. 92% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 89
  • Accountability: 98
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95%; rating input score 95
  • Program expense ratio: 90.4%; rating input score 90
  • Fundraising efficiency: $4.03 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.7%; rating input score 97; 51st percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 2.34; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 8th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 95% of revenue deployed · 90.4% of spending went to programs
  • Governance: 29 of 30 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $70.8M in reported program spending
  • Leadership: top reported pay $701K · 40 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $24.4M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 16/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.